50. Billing company. A billing company that collects bills for doctors’ offices in the area is concerned that the percentage of bills being paid by Medicare has risen.

Historically, that percentage has been 31%. An examination of 8368 recent bills reveals that 32% of these bills are being paid by Medicare. Is this evidence of a change in the percent of bills being paid by Medicare?

a) Write appropriate hypotheses.

b) Check the assumptions and conditions.

c) Perform the test and find the P-value.

d) State your conclusion.

e) Do you think this difference is meaningful? Explain.